Since the beginning of this year, the State Committee for Securities registered the issue prospectus of three banks totaling 90 million manat. Of these, 70 million manat issued Capital Bank, and 10 million manat respectively AFB Bank and Gunay Bank.
For comparison, during the same period last year state registration regarded the issue of shares of five banks in the amount of 72.3 million manat.
According to calculations by Turan, in less than three months at BSE there were placed shares totaling 206.7 million manat. Of these funds, 70 million manat was emission by Capital Bank, 110.9 million - by the International Bank of Azerbaijan, 10 million - by Atrabank (total emission of 40 million manat), 3.6 million - by Gunay Bank, and 12.2 million - by Amrahbank (AZN 20 million) .
During the same period last year shares of 24.5 million manat were placed on BSE. Net top banks' (Capital Bank and IBA) capital jumped over AZN 100 million long ago and the difference compared with the previous year is not significant.
At the end of January 2014 the total aggregate capital of domestic banks amounted to 3,460.8 million manat. Aggregate capital of two of the 43 banks in the country was below the level of AZN 5 million, despite the fact that the minimum size requirement of total capital since 2007 is 10 million manat, and in 2015 will grow to 50 million manat. -15B-
Economics
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In 2024, Azerbaijan’s wheat production reached 1,685.7 thousand tons, reflecting a sharp decline of 148.2 thousand tons compared to the previous year, according to the State Statistical Committee. Wheat productivity also fell by 8.5%, dropping from 33.8 quintals per hectare in 2023 to 30.9 quintals in 2024. These figures underscore a troubling trend for a nation that meets only 25% of its domestic wheat needs through local production.
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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